Colorado’s Cannabis Lifestyle Industry

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Cannabis was legalized in Colorado. The entire community has not only accepted the green leaf as just another drug, it has become part of the lifestyle for people. The dispensaries are modern and there are lots of different strains that are available along with edibles and even spa treatments which use THC. There are cannabis beauty products as well and even though medical marijuana has been legal in Colorado since the year 2001, the year 2012 was the breakthrough year for all residents in the state.

The amendment 64, which was passed in November 2012 states that all residents of Colorado, who are over the age of 21 have the right to legally consumer, grow, possess and even gift marijuana. The commercial sale of cannabis began on January the 1st 2014 and now locals have the right to purchase an ounce of weed from their local dispensaries, while tourists can only purchase a quarter-ounce.

Colorado has therefore become the first state in the United States to promote and legalize the recreational use of cannabis. The first stores and businesses that sold marijuana legally opened in the state, provided they follow all the state rules and regulations. The drug is still considered to be federally illegal, and the state laws in Colorado are constantly changing but the thriving cannabis industry in the state clearly demonstrates the economic value and potential of legalizing cannabis.

Marijuana was voted as the 3rd most popular recreational drug in the United States, and was voted behind alcohol and tobacco, according to statistics released by the National Organization for the Reform of Marijuana Laws (NORML), and surveys in the United States found last year, that nearly 51% of Americans were in favor of legalizing marijuana. Market research in the United States found that in the year 2014, the cannabis industry grew by a whopping 74% and completely blew all other commodities in the market. As a result the value of the cannabis industry skyrocketed from an impressive $1.5 billion in 2013 to an unbelievable $2.7 billion in 2014. It is now being estimated that the industry will be valued around $10.8 billion by the year 2019.

Cannabis has become a lifestyle in Colorado, and there is evidence to back that claim, since $700 million of legal cannabis was sold in Colorado in 2014. Out of which, $386 million went to medical sales and $314 was contributed to recreational use. There are over 100 dispensaries now in the city of Denver alone.